Taking a look at the developers (latest investor/company presentations) and assesing in a simple form their NPV/Metrics compared to BSX to show how the refinery and BSX is the better investment if you can hold out the extra 6-12 months
As you will see below and if you follow the links to the presentations, all of the miners are only just mining and not value adding into the down stream where the real money is made IMO. To take another point none of the miners listed are pushing for green nickel with the exception of Horizonte who have hydro like us. BSX have a major advantage with hydro and pursuing 100% electric production. This in my view is a strong buy knowing that BSX have a unique opportunity here to capture nickel and turn it into battery grade chemicals in the most eco friendly way while also making a large NPV valuation on a base case scenario. Please watch "how high can nickel go" from rkequity to fully understand where it as a specialty chemical is headed.
https://t.co/1PUBfgxlL6As you will also note BSX has the lowest mC to Npv currently out of all the miners compared below.
Blackstone minerals- 2022 PFS combined
https://wcsecure.weblink.com.au/pdf/BSX/02492857.pdfNPV POST TAX- $USD1.99B (8%), IRR 47%
CURRENT MC - $USD156M
LOM - 10Y, probable extension with 20 other targets in the local nickel district and Chim van deposit
Noront Resources - 2012 PFS
https://norontresources.com/wp-content/uploads/2022/02/Q1-2022-Corporate-Presentation-FINAL.pdfNPV - $USD428M (8%), IRR 28%
CURRENT MC - $USD473M
LOM - 11Y on current PFS, up to 20Y extension
Talon Metals - 2022 PFS
https://talonmetals.com/wp-content/uploads/2022/02/TLO_Presentation_Feb_2022-v2.pdfNPV POST TAX - $USD520 (7%), IRR 36%
CURRENT MC - $USD408M
LOM - 9Y , looking to expand
Panoramic Resources - Company presentation 2021
https://wcsecure.weblink.com.au/pdf/PAN/02460471.pdfNPV PRE TAX - $USD353 (8%), IRR ???
CURRENT MC - $USD436
LOM - 12Y, looking to expand
Horizonte Minerals - 2021 Corporate Presentation
https://horizonteminerals.com/news/en_20211102-investor-presentation.pdfNPV POST TAX- $USD691, 1st stage, IRR 27%
$USD1.2B, 2nd stage, IRR 30.7%
CURRENT MC - $USD330M
LOM - 30Y
Centaurus Metals -
https://www.centaurus.com.au/site/PDF/c6295d4e-e069-44af-944d-355ef36e9f8b/CorporatePresentationRIUExplorersConferenceNPV - $USD810M
CURRENT MC - $USD384M
LOM - 13Y with expansion plans
